Trump Calls Fed Chair Powell ‘Mentally Problematic,’ ‘Incompetent’

president Donald Trump on Wednesday harshly criticized Jerome Powell, the head of the Federal Reserve, saying he has “mental issues” and would like to “kick his ass.”

Trump’s statements sparked laughter while he was speaking at the US-Saudi Investment Forum at the Kennedy Center in Washington, D.C. Trump indicated that Treasury Secretary Scott Besent was the one who obstructed him.

“[Powell’s] I got some real mental problems. “There’s something wrong with him,” Trump said. “I’ll be honest, I would fire him. He should be fired. The man is blatantly incompetent.”

Powell shares what it would take to leave the Fed, book reveals

Trump, who appointed Powell in 2017, then turned to Besant, who he said had lobbied not to fire Powell. Powell’s term ends in May 2026.

“The only thing Scott is screwing over is the Fed, because the Fed — interest rates are too high, Scott,” he said. “And if you don’t fix it quickly, I’ll fire you, okay?”

“Sir, don’t fire him. Sir, please don’t fire him. He has three months to go,” Trump said, imitating Piscent. “Please, it is the voice of reason.”

Trump has fallen out with Powell in recent months over the Federal Reserve’s refusal to cut interest rates more aggressively. Trump has pushed for cuts in an attempt to stimulate the economy.

Trump urges lower interest rates to boost savings, but Fed says economy is strong

A photo of Federal Reserve Chairman Jerome Powell and President Donald Trump. On Wednesday, Trump criticized Powell while speaking at the US-Saudi Investment Forum at the Kennedy Center in Washington, DC (Reuters/Getty/Getty Images)

Powell moved slowly, urging caution and a data-driven approach to managing inflation.

The Federal Reserve cut interest rates in September by a quarter of a percentage point, its first cut since December. Interest rates were cut again in October by another quarter point, leaving the benchmark federal funds rate at a range of 3.75% to 4%.

Another rate cut in December is not a certainty. FOX Business previously reported that policymakers at the Federal Open Market Committee (FOMC) were split at their late October meeting over an additional rate cut at their next meeting in mid-December amid concerns about a slowing labor market and rising inflation.

In addition to interest rates, Trump also targeted the $2.5 billion Federal Reserve headquarters renovation project.

US Treasury Secretary Scott Bessent. (Aaron Schwartz/CNP/Bloomberg via Getty Images/Getty Images)

Get FOX Business on the go by clicking here

“I’m building a ballroom that’s going to cost a fraction of that, and it’s bigger than all of that put together,” Trump said.

FOX Business’ Eric Revell contributed to this report.